Italy Under Pressure Despite Strong Auction Sales

There was strong demand for Italian bonds, but Italy still faces enormous hurdles with new highs on bond yields, Charles Forelle reports on Markets Hub. Photo: AFP / Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

the ... are all on ... the European the easy option Baltimore plot ... to pay Nintendo is the nose for Charles prone to break that down ... he was always the year of Charles ... achievement and technology on the sideline seeking to come on reality TV ... Charles Howell RUK ... morning all while I was ... really ... well with me and ... I'm not the tying government ... write to go ... on and tells about this bond auction today ... sure well good news bad news will get a good news first the good news to the Italian government called on ... somebody who's willing to buy ... the bet here that they had a ... very irate about seven point eight percent from some of the shorter dated bonds and a little bit less actually on the longer dated on ... the ten year bond ... I'm in a further aid that ... nobody wants to pay for very long time ... it's not good when your economy is growing one percent did that to be thank heaven and a half percent ... for long-term borrowing ... that having been said that the crisis that most people have their eyes on here is a crisis of confidence in which buyers should disappear ... they did not disappear this option they showed up ... I do it they will tell but that the heftily in Europe with the barn door to go around eleven billion euros with him ... not a fabulous option but for the legal ticket they can get ... sometimes it's interesting so the good news is that by actually showed up and yields at these levels ... is there any sense of what's the time frame for how much longer this can go on ... what what it is buyer ... remain interested in purchasing and seven in Africa and Italy can can survive at that level for a really long period of time actually in Italy has ... one point nine trillion euro zone government debt ... he will take a long time to roll over the entire stock obviously acknowledge that they may go for a foreigner half percent which was that they now on average ... to think that in Everton overnight they have to roll the stock ... aam but survived as long as there is there are people willing to pay ... and other about four hundred billion euros of Italian bonds coming due on the next two years so ... I'm there's a lot of people would need to step up ... eyes and finance ministers meeting today to inspect the meeting that will see him at the ECB ... is the ECB moving removing their position at all ... obviously seems to be the big question ... yet there's there's no indication yet that the EPB approving of aggression I'm ... the the the the real question is ... the owner of the move by the European government to take a broader control over ... the fiscal weight of the of the WeWork country ... aam are good enough to ... get the TV the cover it need internally into the ... politically ... I'm in the Bye-Bye unit in a massive way ... there is any indication that the to be inching to my them at the DEPB is your very spring like it difficult to get a good lead-up ... out of it probably won't be a major topic of the finance ministers meeting today ... I'm you know that that's something for the UK ... and so ... this also saw some of his finance ministers' meeting and anything that we can expect any groundbreaking sorta bought announcement today that many common often from this new I can never expect anything groundbreaking and finance ministers meeting in the event of a fairly slowly ... aam and and frankly what we are expecting to hear ... the deepening our own leaders have to leverage the EFSF but the European euro zone bailout fund ... he recalled their block of Park event to the bailout from being delivered up to two trillion euros or one trillion euro ... no maybe not so much you could be substantially less than that ... I and we should hear ... some time there's some discussion that evening ... I and possibly come announcement on how much it that they can get into their bailout ... time trials thanks alot of talking very soon I'm sure